The number of health-tracking smart rings available for purchase has decreased since October 2023, following a patent dispute involving Oura and its competitors, RingConn and Ultrahuman. The U.S. International Trade Commission ruled in favor of Oura in August, determining that RingConn and Ultrahuman infringed on Oura's patent for a smart ring that tracks health and fitness statistics.

As a result of the ruling, RingConn and Ultrahuman were barred from importing new rings into the United States. The lawsuit presented a significant challenge for both Oura competitors, particularly Ultrahuman, which had planned to expand its U.S.-based manufacturing facility to meet growing market demand and circumvent new U.S. tariffs. Ultrahuman distinguishes itself from Oura by not requiring a subscription fee, while Oura users pay $6 per month to access the full functionality of its rings.

Bhuvan Srinivasan, Ultrahuman's chief business officer, addressed the company's next steps in response to the U.S. market ban. The specific details of these steps were not disclosed. The initial ITC ruling and subsequent import ban have altered the competitive landscape of the smart ring market, impacting the availability of different product options for consumers. The long-term effects on market share and pricing remain to be seen.